The Spinning Industry In Pakistan Is Still Closed Today And Tomorrow.

On Tuesday and Wednesday, the spinning industry in Pakistan was still closed, protesting the government's 15% regulatory tax on yarn export.

At a news conference held on Monday at the Pakistan Textile Mills Association (APTMA), officials of the association said they would not accept 15% of the adjustment tax and would continue their strike for two months.

Yilan maryboer, managing member of the Southern District branch of the Pakistan Textile Mills Association, and members of the management committee, as well as other officials, said that after the levy on the export of yarn, 14 million bales of cotton would be at risk, because cotton farmers had planted seeds.

The spinning factory said that the government should immediately pay close attention to this problem and solve this problem amicable.

15% of the adjustment tax will be converted into a loss of 20 billion rupees in two months, of which 16 billion rupees will go into the pockets of value-added industries, and 4 billion rupees will go into the pockets of the government.

The spinning factory condemned the Federal Minister of textiles, Rana Mohamed Faruqi, Khan, who said that Khan was biased against the spinning industry because he supported the value-added textile department of his supporters from.

The former president of the Pakistan cotton gin Association said that the loss of the spinning industry will be passed on to cotton growers, and cotton prices will drop.

The minimum price of Phutti (raw cotton and seed cotton) will reach 2000 rupees / Mende, and the current price is 4000 rupees / Mende.

As production costs rise, growers must get a good price, so it is not feasible to levy regulatory taxes.

After the value added departments protested that they could not get the yarn, the cabinet textile Commission seized 15% of the regulatory tax on yarn export last week because of the large number of yarn exported to China and other countries when the world was short of cotton.

Before the tax, the Pakistan government exported the yarn export to 35000 tons per month, but the US dollar was implemented because the individual exporters appealed to the court.

If the adjustment tax is not abolished, they will also appeal to the court, the spinning industry leader said at a news conference.